European Union

PIMCO’s Bill Gross: U.S. in worse shape than Greece

June 13, 2011

[expand title=Read More] Source When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday. Much of the public focus is on the nation’s public debt, which is $14.3 trillion. But [...]

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Greece given world’s lowest credit rating, “CCC”, by S&P

June 13, 2011

[expand title=Read More] Source “The move to CCC from B reflects “our view that there is a significantly higher likelihood of one or more defaults,” S&P said in a statement yesterday. “Risks for the implementation of Greece’s EU/IMF borrowing program are rising, given Greece’s increased financing needs and ongoing internal political disagreements surrounding the policy conditions [...]

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Italy Referendums target Prime Minister Berlusconi and Infrastructure Funding

June 12, 2011

[expand title=Read More] Source ”   Prime Minister Silvio Berlusconi’s political future and billions of euros of private investment by Acea SpA (ACE), Veolia Environnement SA (VIE) and other utilities may be threatened by the outcome of Italian referendums that end today. In one referendum, Italians are voting on whether to overturn a law that allows Berlusconi to use official [...]

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E. Coli death toll raises to 35 and increases Kidney concerns

June 12, 2011

[expand title=Read More] Source A health spokesman in Germany released this statement on the E.coli outbreak: “Around 100 patients have suffered such terrible kidney damage that they will require a transplant or have to undergo dialysis for the rest of their lives”. Source 2 Additionally, according the World Health Organization, the death toll has risen to [...]

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Christine Lagarde extends her lead in the bid for IMF Managing Director

June 10, 2011

[expand title=Read More] Source Lagarde won the backing of several African leaders and the South African former finance minister Trevor Manuel ruled himself out of the contest. Lagarde’s only main opponent is head of the Mexican Central Bank Agustín Carstens. Kazakhstan’s central bank governor Grigori Marchenko recently withdrew. Carstens has not won wide support from other emerging [...]

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E. Coli death count hits 30; Dutch find new E. Coli strain

June 9, 2011

[expand title=Read More] Source More than 2,800 people have become ill in at least 14 countries. Source 2 The Dutch government recalled beet sprouts after it found a new strain of E. Coli. that’s less dangerous than the one that’s caused 30 deaths across Europe. [/expand]

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European regulators probe Facebook’s facial recognition

June 9, 2011

[expand title=Read More] http://www.ft.com/intl/cms/s/2/ffe3edb4-92c8-11e0-bd88-00144feab49a.html#axzz1OpcPnjLe ”   A number of European privacy regulators are investigating Facebook’s facial recognition feature amid mounting concern about the technology, which attempts to identify people in photos uploaded to the website. The social networking site has come under fire from the German, UK and Irish authorities for introducing the feature without permission from users. [...]

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French candidate Lagarde, China agree: IMF selection process must be open

June 9, 2011

[expand title=Read More] Source “Speaking after meetings with Chinese leaders in Beijing to press her candidacy for the post, Lagarde said selecting the first woman to head the Washington-based agency would help improve the institution’s commitment to diversity. China, India and Brazil are among emerging economies that have demanded an end to the six-decade-old custom where the [...]

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